Finance Minister Seth Tekper, will address the nation on Wednesday May 20, on government\u2019s debt management initiatives.<\/p>\n
[contextly_sidebar id=”swwOKPWQm3Femr8qDX77IyZUtAXMuXMq”]He is expected to also talk about\u00a0the International Monetary Fund (IMF) bailout programme, its implications for Ghana as well as initiatives on compensation among others.<\/p>\n
The programme will be held at the Kofi Annan Centre of Excellence in ICT.<\/p>\n
This was contained in a press release.<\/p>\n
Debt stock stands at GH\u00a288.2<\/strong><\/p>\n According to figures from the Bank of Ghana, at the end of March 2015 the country\u2019s current total public sector debt stock had risen to about GH\u00a288.2<\/span><\/a><\/strong>.<\/p>\n The figure represents 65.3 percent of the country\u2019s Gross Domestic Product (GDP).<\/p>\n The central bank has further indicated that in 2014 alone, government borrowed up to GH\u00a224.1 billion<\/a><\/strong><\/span> adding that the country’s\u00a0public debt stock by the close of 2014 rose from the GH\u00a251.9 billion\u00a0in 2013 to\u00a0GH\u00a276.1 billion.<\/p>\n There is already a huge debate<\/a><\/span><\/strong> on the effect of government\u2019s continuous appetite for borrowing on the country’s economic woes.<\/p>\n In another development the IMF has released about $114 million to Ghana<\/a><\/strong><\/span> to help shore up its foreign exchange reserve.<\/p>\n The amount comprises the first tranche of the $940 million bailout programme<\/a><\/strong><\/span> between Ghana and the IMF.<\/p>\n –<\/p>\n By: Godwin Akweiteh Allotey\/citifmonline.com\/Ghana
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